EPFO: Out of the total 15.32 lakh net members added during March, about 9.68 lakh new members have been included for the first time under the provisions of EPF and MP Act, 1952.
EPFO: EPFO, the organization that manages the retirement fund, has added a net 15.32 lakh subscribers in March 2022, which is 19 percent more than 12.85 lakh subscribers (members) in February this year. According to the news of PTI, the Labor Ministry said in a statement on Friday that according to the provisional EPFO payroll data, a net increase of 15.32 lakh members in March 2022. According to the statement, the number of members increased by 2.47 lakhs in March 2022 as compared to February 2022 on a monthly basis.
9.68 lakh new members will join for the first time
According to the news, out of the total 15.32 lakh net members added during March, about 9.68 lakh new members have been included for the first time under the provisions of the EPF and MP Act, 1952. There was an increase of 81,327 in the number of new EPFO subscribers in March 2022 as compared to February.
Maximum nominations are in the age group of 22-25 years
Also, 5.64 lakh members exited the scheme, but rejoined the establishments under EPFO. Instead of opting for the last withdrawal option from their accounts, these people transferred their funds to the previous PF account. An age-based comparison of payroll data revealed that the highest net enrollment during March 2022 was in the age group of 22-25 years. It was followed by 29-35 age group.
Comparing the payroll data (epfo subscribers in march 2022) according to the states, Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana and Delhi continue to lead. The share of women enrollment in the total net membership during March 2022 is 22.70 percent.
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